GOTION(SZ:002074) Huan Qiu Wang·2026-02-05 02:26Core Insights - The Chinese power battery industry is entering a new phase of "diversified competition" by 2025, with market growth shifting from passenger vehicles to commercial vehicle segments [3] - The market concentration has reached a ceiling, leading to intensified competition and a transition of battery products from "high-tech scarce goods" to "standardized industrial products" [3] - The market share of lithium iron phosphate batteries is expected to rise to 81.2% by 2025, with leading companies rapidly closing the performance gap in key metrics like energy density and cycle life [3] Industry Trends - Automakers are implementing a "diversification strategy" to reduce supply chain risks, resulting in diluted order increments for leading companies [4] - The competition is shifting from mere production scale to technological advancements, with companies like Guoxuan High-Tech focusing on R&D and diverse technology routes [5] Technological Advancements - Guoxuan High-Tech has entered the mass production of lithium iron phosphate batteries with energy densities exceeding 195Wh/kg and is leading in next-generation battery technologies [5] - The company has established a pilot line for all-solid-state batteries with a yield rate of over 90%, and its G-Cell hybrid battery has achieved an energy density of 300Wh/kg, enabling electric vehicles to exceed 1000 km in range [5] Market Positioning - Guoxuan High-Tech has successfully supplied batteries for several high-end models, contributing to its stable growth and positioning in the mid-to-high-end market [6] - The commercial vehicle sector is projected to account for 40.5% of installed capacity by 2025, with a year-on-year growth of 140.9%, becoming a significant growth driver for the company [7] Strategic Collaboration - The company's success in the mid-to-high-end passenger vehicle and commercial vehicle markets is attributed to its synergistic advantages in technology, products, and market strategies [8] - Guoxuan High-Tech is exploring new applications for lithium batteries in emerging fields such as low-altitude aircraft and humanoid robots, emphasizing innovation and collaborative development [8]